In the latest effort to turn Russia's Urals crude oil export blend into a new international price benchmark, the St. Petersburg International Mercantile Exchange (Spimex) launched trading in its deliverable Urals futures contract at the end of 2016. In an interview with Nefte Compass, the exchange's CEO, Alexey Rybnikov, explains why the Spimex Urals Crude Futures contract has yet to get real sellers and buyers and what it needs to attract the necessary liquidity. He also notes that Spimex is developing a similar instrument for Russia's Espo blend crude oil (NC Jan.25'18)
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